Cholamandalam NCD April 2023 Description – Incorporated in 1978, Cholamandalam Investment and Finance Company (CIFCL) is the financial services arm of Chennai-based Murugappa group. The company operates primarily in the commercial vehicle financing and loan against property segments. In FY15, CIFCL ventured into the small and medium enterprise loan and housing finance business.
The company offers loans for commercial vehicles, passenger vehicles, 2-wheelers, tractors, construction equipment, homes, SMEs, and others.
CIFCL has an established position in the vehicle finance market backed by its strong franchisee base and fairly diverse product portfolio. As of December 2022, it had 1,166 branches in India. About 80% of CIFCL’s branches are in rural areas. The company has a diversified network with no single region (North/South/East/West) accounting for more than 30% of the total branches as of December 2022.
The AUM grew by 31% YoY in 9M FY2023 compared to 10% YoY in FY2022 and the compound annual growth rate (CAGR) was 20% between March 2017 and March 2021. The AUM stood at INR 95,468 crores in December 2022 with vehicle finance, home equity, home finance, and new businesses accounting for 64%, 21%, 8%, and 7%, respectively.
Promoters of Cholamandalam – Cholamandalam Financial Holdings Limited, Ambadi Investments Limited, M V Subbiah, M A Alagappan, A Vellayan, A Venkatachalam, M M Murugappan, M M Venkatachalam, M A M Arunachalam, S Vellayan, Arun Alagappan, M M Veerappan, V Narayanan, V Arunachalam, M M Muthiah, M V Muthiah, Arun Venkatachalam, M V Subramanian, M V Murugappan HUF, M V Subbiah HUF, M A Alagappan HUF, A Vellayan HUF, A Venkatachalam HUF, M M Murugappan HUF, M A M Arunachalam HUF, M M Venkatachalam HUF, M M Muthiah HUF, A M M Arunachalam HUF, Murugappa & Sons (M V Subbiah, M A Alagappan & M M Murugappan Hold Shares on Behalf of the Firm) Tube Investments of India Limited, New Ambadi Estates Private Limited, Coromandel International Limited, Ambadi Enterprises Limited, Carborundum Universal Limited, E.I.D. Parry (India) Limited, M A Alagappan (Holds Shares on Behalf of Kadamane Estates).
Cholamandalam NCD April 2023 Details
| Subscription Dates | 25 Apr – 27 Apr 2023 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures |
| Face Value | INR 1,000 per NCD |
| Issue Price | INR 1,000 per NCD |
| Issue Size (Base) | INR 500 crores |
| Overall Issue Size (including oversubscription) | INR 1,000 crores |
| Minimum Lot Size | 10 NCDs |
| Market Lot | 1 NCD |
| Tenor | 22 months 37 months 60 months |
| Credit Rating | IND AA+/Stable ICRA AA+ Stable |
| Category Reservation | Category 1 (QIB): 20% Category 2 (NII): 25% Category 3 (HNI): 25% Category 4 (Retail): 30% |
| Basis of Allotment | First Come First Serve |
| Listing On | BSE, NSE |
Cholamandalam NCD April 2023 – Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 22 months | Annual | 8.25% | 8.26% | INR 1,000 |
| Series 2 | 22 months | Cumulative | NA | 8.25% | INR 1,156.64 |
| Series 3 | 37 months | Annual | 8.30% | 8.30% | INR 1,000 |
| Series 4 | 37 months | Cumulative | NA | 8.30% | INR 1,279.15 |
| Series 7 | 60 months | Annual | 8.40% | 8.39% | INR 1,000 |
| Series 8 | 60 months | Cumulative | NA | 8.40% | INR 1,497.40 |
Cholamandalam Non-Convertible Debentures Lead Manager
A. K. Capital Services Limited
603, 6th Floor, Windsor, Off CST Road,
Kalina, Santacruz East, Mumbai 400 098
Phone: +91 22 6754 6500
Email: [email protected]
Website: www.akgroup.co.in
Cholamandalam Non-Convertible Debentures Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Email: [email protected]
Website: www.kfintech.com
Cholamandalam NCD Documents
Cholamandalam Contact Details
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Dare House, No. 2, N.S.C. Bose Road,
Parrys, Chennai 600 001, Tamil Nadu, India
Phone: +91 44 4090 7172
Email: [email protected]
Website: www.cholamandalam.com
Cholamandalam NCD April 2023 Subscription Status (no. of times)
| Date | QIB | NII | HNI | Retail | Total |
| 27 Apr 2023 | 3.70 | 8.73 | 2.02 | 1.87 | 3.99 |
| 26 Apr 2023 | 3.70 | 8.69 | 1.97 | 1.75 | 3.93 |
| 25 Apr 2023 | 3.70 | 8.64 | 2.09 | 1.40 | 3.85 |
Cholamandalam NCD April 2023 Allotment Status
Cholamandalam NCD April 2023 allotment status is now updated on the website of KFin Technologies’ website. Click on this link to get allotment status.
Cholamandalam NCD April 2023 FAQs
What are the face value and lot size of Cholamandalam NCD April 2023?
The NCDs will be issued at a face value of INR 1,000 each NCD and the minimum lot size is 10 NCDs.
What is the frequency of interest payment in Cholamandalam NCD April 2023?
The frequency of payment for Cholamandalam NCD is Annual, & Cumulative.
What is the basis of allotment in the Cholamandalam NCD April 2023 offer?
Cholamandalam NCDs will be allotted on a First Come First Serve Basis.
The article states that the effective yield for Series I with a tenure of 22 months is 8.60% which is incorrect. Please note that for Series I, the effective yield is 8.40% with a Tenure of 22 months at a coupon rate of 8.25%.
Request you to make the necessary changes in your article as soon as possible.